AAON, Inc. (NASDAQ:AAON) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP trimmed its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 15.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,577,285 shares of the construction company's stock after selling 289,461 shares during the quarter. Wasatch Advisors LP owned 1.94% of AAON worth $185,615,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in AAON by 28.4% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company's stock worth $41,000 after acquiring an additional 84 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of AAON by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the construction company's stock valued at $2,201,000 after purchasing an additional 100 shares during the period. HUB Investment Partners LLC boosted its holdings in AAON by 5.2% during the fourth quarter. HUB Investment Partners LLC now owns 2,016 shares of the construction company's stock worth $237,000 after buying an additional 100 shares in the last quarter. Smith Moore & CO. grew its position in AAON by 3.1% during the fourth quarter. Smith Moore & CO. now owns 3,300 shares of the construction company's stock valued at $388,000 after buying an additional 100 shares during the period. Finally, Conway Capital Management Inc. raised its position in shares of AAON by 4.0% in the fourth quarter. Conway Capital Management Inc. now owns 2,602 shares of the construction company's stock worth $306,000 after acquiring an additional 101 shares during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AAON

In related news, Director David Raymond Stewart acquired 1,000 shares of AAON stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the acquisition, the director now owns 3,000 shares in the company, valued at approximately $242,580. This represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 18.55% of the company's stock.

AAON Price Performance

NASDAQ AAON traded up $2.02 during mid-day trading on Friday, hitting $82.46. The stock had a trading volume of 510,664 shares, compared to its average volume of 725,110. AAON, Inc. has a twelve month low of $68.98 and a twelve month high of $144.07. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 36.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The firm's 50 day moving average is $86.84 and its 200 day moving average is $110.12.

AAON declared that its board has approved a stock repurchase program on Tuesday, March 4th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the construction company to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

AAON Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a boost from AAON's previous quarterly dividend of $0.08. AAON's dividend payout ratio (DPR) is currently 19.90%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AAON. Robert W. Baird cut their price target on AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. DA Davidson dropped their price target on shares of AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. CJS Securities upgraded shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a research report on Friday, February 28th. Finally, StockNews.com lowered shares of AAON from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $115.50.

About AAON

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.